In the country, there is a better environment for startups. The government has taken several steps to increase their numbers. This is why the number of startup companies in India is growing at a 10% annual rate.
The majority of startup companies, according to Sanjeev Malhotra, CEO of NASSCOM Center of Excellence for Internet of Things (IoT) and Artificial Intelligence (AI), are in the field of applications. A lot of new businesses are built on software services.
According to him, the number of startup companies in the country has increased significantly. Every year, ten percent of new businesses join. However, in the main areas of research, there is a need to create startups. According to him, India has the world’s third largest startup ecosystem. In 2021-22, the number of new startup companies in the country will have increased to over 14,000, up from only 733 in 2016-17.
The number of unicorns continues to rise.
More unicorns (worth over $1 billion) are being produced in India, according to Malhotra. In 2021, 44 Indian startups will be classified as unicorns. As a result, the country’s unicorn population has increased to 83. These companies’ total assets have increased by $ 106 billion as a result of this. 14 lakh people have gotten jobs through startups, both directly and indirectly.
By 2026, the country will have one billion smartphone users.
By 2026, India will have one billion smartphone users. According to a report released by Deloitte on Tuesday, the number of smartphone users will rise as sales of mobile phones with internet capabilities in rural areas rise.
By 2021, India had 1.2 billion mobile phone users. Smartphones are used by 750 million people. Between 2021 and 2026, the number of smartphone users in rural areas is expected to increase at a 6% annual rate.